The Royal Mint Trading Fund Order 1975

• Citation: S.I. 1975/501
• Sections: 5

Section 1 Citation and commencement

This Order may be cited as the Royal Mint Trading Fund Order 1975, and shall come into operation on 1st April 1975.

Section 2 Interpretation

The Interpretation Act 1889 shall apply for the interpretation of this Order as it applies for the interpretation of an Act of Parliament.

Section 3 Establishment of the Royal Mint Trading Fund

As from 1st April 1975 such of the operations of the Crown service known as the Royal Mint as are described in the Schedule to this Order shall be financed by means of a trading fund to be known as the Royal Mint Trading Fund (in this Order referred to as “ the trading fund ”), instead of by means of annual votes and appropriations.

Section 4 Public dividend capital

Such part of the capital of the trading fund as amounts to £7 million shall be public dividend capital ranking as an asset of the Consolidated Fund.

Section 5 Limitation of total indebtedness

The total indebtedness of the trading fund to the National Loans Fund in respect of principal (whether indebtedness under section 2(2) or section 2(3) of the Government Trading Funds Act 1973) shall not at any time exceed the originating debt of the trading fund by more than £20 million.